Penn National Gaming Inc (PENN)
Operating return on assets (Operating ROA)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 81,800 | -47,900 | -901,800 | -779,900 | -559,600 | -138,900 | 891,800 | 988,700 | 1,081,600 | 1,064,800 | 1,059,600 | 1,135,100 | 1,059,600 | 953,100 | 910,200 | 366,900 | -410,200 | -518,500 | -534,900 | -171,120 |
| Total assets | US$ in thousands | 15,261,700 | 15,514,500 | 15,538,000 | 15,614,400 | 16,064,200 | 16,168,600 | 17,028,000 | 17,040,000 | 17,502,100 | 17,535,100 | 17,880,800 | 18,071,100 | 16,872,100 | 15,748,700 | 15,078,200 | 14,888,200 | 14,667,300 | 14,812,000 | 14,321,500 | 13,938,400 |
| Operating ROA | 0.54% | -0.31% | -5.80% | -4.99% | -3.48% | -0.86% | 5.24% | 5.80% | 6.18% | 6.07% | 5.93% | 6.28% | 6.28% | 6.05% | 6.04% | 2.46% | -2.80% | -3.50% | -3.73% | -1.23% |
December 31, 2024 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $81,800K ÷ $15,261,700K
= 0.54%
Operating return on assets (Operating ROA) measures the company's ability to generate operating profits from its assets. Looking at the historical trend for Penn National Gaming Inc, the operating ROA fluctuated over the quarters.
From March 31, 2020, to September 30, 2021, the company faced negative operating ROA, indicating that its operating profits were insufficient to cover the asset base. However, starting from March 31, 2021, there was a noticeable improvement as the operating ROA turned positive and steadily increased over the next several quarters, reaching its peak at 6.28% in December 31, 2021, and maintaining that level through March 31, 2022.
Subsequently, there was a slight decrease in the operating ROA, with the ratio hovering around the 5-6% range from June 30, 2022, to December 31, 2022. However, in the following quarters, the operating ROA exhibited some fluctuations, with a dip to 5.24% by June 30, 2023, followed by a significant decline to -4.99% by March 31, 2024.
The company experienced a rebound in the operating ROA in the latter half of 2024, with the ratio turning positive again but remaining relatively low at 0.54% by December 31, 2024.
Overall, the trend in Penn National Gaming Inc's operating ROA reflects variability and some instability in the company's ability to generate operating profits relative to its asset base. Further analysis of the underlying factors driving these fluctuations will be crucial to understanding the company's operational performance and sustainability.
Peer comparison
Dec 31, 2024